April 10, 2026 — Cattle futures closed higher on Thursday, supported by a firmer tone in the cash market and solid weekly export sales data. The gains came despite a slowdown in slaughter rates.
Futures and Cash Markets Move Higher
Live cattle futures on the Chicago Mercantile Exchange finished the session with gains ranging from 77 cents to $1.27. According to data from Barchart, the June 2026 contract led the advance, closing up $1.275 at $247.200 per hundredweight.
Also read: Cattle Futures Steady as Beef Prices Rise
In the cash market, some light trade in the Southern Plains was reported at $246 per cwt. That price was steady to $1 higher than levels seen the previous week. An attempt to move cattle through an online auction saw bids between $244 and $244.50, but no sales were confirmed on the 970 head offered.
Feeder cattle futures also found strength, posting gains of $1.85 to $2.60. This rally occurred even as the CME Feeder Cattle Index dipped 45 cents to $364.10 on April 8.
Also read: Cattle Futures Gain as Cash Market Awaits Direction
Export Demand Provides Support
A key driver for the positive sentiment was the latest U.S. export data. The U.S. Department of Agriculture’s weekly Export Sales report showed 17,408 metric tons of beef were sold for the week ending April 2.
This volume marks the third-largest weekly sale so far in the 2026 calendar year. South Korea and Japan were the top buyers, each purchasing 6,100 MT. Actual shipments for the week, however, totaled 13,321 MT, the lowest figure in four weeks. South Korea was the leading destination for shipped beef at 4,600 MT, followed by Japan at 3,800 MT.
Industry watchers note that consistent export demand, particularly from key Asian markets, is a fundamental pillar for cattle prices. This week’s sales data suggests that demand remains intact.
Mixed Signals from Slaughter and Wholesale Prices
Other market indicators presented a more complex picture. Wholesale boxed beef prices were mixed in Thursday’s afternoon report. The Choice/Select spread remained inverted at 48 cents. Choice boxed beef cutout values rose $1.43 to $310.99 per cwt, while Select fell 70 cents to $381.57.
USDA estimated federally inspected cattle slaughter for Thursday at 105,000 head. The weekly total reached 425,000 head. That figure is down 4,000 head from the previous week and is 38,950 head below the same week last year.
The lower slaughter numbers could signal tighter near-term supplies. But they may also reflect ongoing adjustments in packing plant schedules. The implication for prices is not yet clear.
What This Means for the Market
Thursday’s activity points to a market finding footing. Firming cash prices and strong export bookings are bullish factors. The recent pressure from rising grain costs, which impacts feeder cattle, appears to have eased slightly for now.
Market participants will be watching for more widespread cash trade to confirm the higher price trend. They will also monitor the upcoming USDA Cattle on Feed report for signals about future supply. For investors, the resilience in futures despite lower slaughter suggests underlying strength. But the mixed wholesale beef prices indicate consumer demand at the retail level is being tested.
According to CME Group data, open interest in live cattle futures has been relatively stable. This suggests the recent move is not merely speculative short-covering but may have broader support.
The market’s next test will be whether cash trade can consistently hold at or above Thursday’s reported levels. If it can, futures may have room to extend their gains.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
